Petrovietnam Gas Awards Long-Term LNG Supply Contract to Shell for Vietnam
Petrovietnam Gas has signed a long-term liquefied natural gas (LNG) supply contract with Shell, set to run from 2027 to 2031, under which Shell will deliver approximately 400,000 metric tons of LNG annually to Vietnam's Thi Vai terminal. This marks Vietnam's first long-term LNG agreement, following its initial imports that began in 2023, and shifts the country away from reliance on the spot market for LNG supplies.
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Petrovietnam Gas has awarded its first long-term liquefied natural gas (LNG) supply contract to Shell, effective from 2027 to 2031. The five-year agreement entails Shell delivering approximately 400,000 metric tons of LNG annually to Vietnam on a delivered ex-ship (DES) basis at the Thi Vai terminal.
Vietnam commenced LNG imports in 2023, with the first delivery to the Thi Vai terminal, which serves two gas-fired power plants that started commercial operations in mid-December. Prior to this contract, Vietnam had imported LNG solely from the spot market, with 0.5 million tons shipped in 2025, according to Kpler data. The tender for this long-term supply was first issued in August.
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